Latest News

01Nov 2017

According to a recent report from the Identity Theft Resource Center and CyberScout, 791 data breaches were reported during the first half of 2017 in the United States alone, marking a 29 percent jump from the same period in 2016. The increasing rate of cyber breaches indicates that many companies are still failing to take cyber security seriously.

Most Vulnerable Sectors

The report organized the data breaches into five sectors: banking, health care, government, education and business. At 54.7 percent, the business sector experienced the highest percentage of total breaches reported. Coming in second was the health care industry at 30.7 percent. Third was the education sector at 11.3 percent, with financial and government trailing at 5.8 and 5.6 percent respectively.

The Real Numbers

The 791 breaches reported included at least 12 million records, which contained credit card numbers, medical files and Social Security numbers. However, the actual amount of records exposed could be much higher, since most industries aren’t required to share the type of information stolen and number of records compromised. In fact, 67 percent of all the breaches omitted such details, marking another record high.

Cost of a Breach

Not only is the number of data breaches at a record high, but so is the average cost of a breach—up 5 percent from last year at $7.35 million. What’s more is that since data breaches are so common, only a small portion make the news, so many businesses fail to realize the threats they’re exposed to until they find themselves victimized.

Be proactive, and contact Provant Group to ensure you have the proper coverage to protect your company against losses from data breaches.

22May 2017

Together these companies bring years of experience, passion and innovative technology to commercial, personal and casualty insurance industry

May 2017, Chicago, IL – The Provant Group, formerly known as River Point Insurance, today announces its asset purchase of Wolf Point Advisors, a deal that will move River Point, Wolf Point, Kaercher and Sundance Insurance to operate under its new title, The Provant Group. The companies with offices in Illinois and Nevada, come together to collaborate their resources and build a stronger offering for the nation’s insurance middle market.

With the collection of industry experts and unmatched product offerings, The Provant Group is expanding its team with best-in-class professionals.  “When we first began River Point Insurance, we set out to deliver an extraordinary experience to our clients and our team, attract top tier talent, and shape the industry.” said Vince DiBenedetto, CEO of The Provant Group.  “This deal allows us to accelerate our vision for the business by adding great people who are incredibly talented and passionate about our clients.  We also know it is important to create a brand that not only represents who we are and where we want to go as a group, but is recognized as a leader in the industry.  With so many names in the marketplace, we feel operating as The Provant Group will not only strengthen our industry presence, but transcend insurance to be a respected name in our communities for years to come.”    

While all teams will officially join The Provant Group, Kaercher & Sundance Insurance will continue to operate under their respective names as a Provant Group Company.  “Kaercher and Sundance are synonymous with insurance in Nevada.  However, we recognize the importance of having one brand in the marketplace as we continue to grow and expand both our team and capabilities on a national level.  While we will gradually transition our names to The Provant Group, we could not be more excited about the overall direction of our company and the opportunity this represents for all of us.”  Jimmy Porrello, Chief Operating Officer of The Provant Group.

“With our shared values, goals, and culture, we could not have found a better group of people for our team and clients to be a part of.  Becoming a part of The Provant Group will allow us to direct all of our focus to the value we bring to our customers.  We’ve expanded our resources and we are well positioned for new opportunities that will allow us to deliver incredible service to our clients, continue to grow, and consistently elevate our market share in the industry. ” said Geno Mattioda, former CEO of Wolf Point Advisors and now Partner, Executive Vice President of The Provant Group.

About The Provant Group

The Provant Group is a premier insurance brokerage that provides all lines of property and casualty insurance, risk management, employee benefits, and financial products and services to corporations, institutions, and individuals throughout the world.  Our focus is to ensure that our clients are represented by the most experienced and knowledgeable professionals, have access to the most sophisticated and innovative solutions, and receive unparalleled service in the insurance industry. All of our resources, solutions, and services create real value to improve our clients’ bottom line.

03Apr 2017

The Food Safety Modernization Act (FSMA), signed into law on Jan. 4, 2011, expands the power of the Food and Drug Administration (FDA) to oversee food safety with a focus on prevention. Each year, about 48 million people get sick, 128,000 are hospitalized and 3,000 die—all from foodborne diseases that are preventable.

The FSMA is designed to reduce those numbers by radically updating industry practices to ensure food safety and defense in an evolving global economy. Because of how vast and interconnected food supply has become, these regulations will impact a number of industries.

FSMA Highlights  

The FDA divides the elements of the FSMA into five key areas:

  1. Preventive Controls: Rather than simply reacting to problems in the food supply, the FSMA gives the FDA authority to institute proactive measures to significantly minimize or prevent problems before they occur.
  2. Inspection and Compliance: Both inspection and compliance are key tools for determining risks and enforcing that proper safety measures are taken. The FSMA allocates inspection and compliance resources in a risk-based manner.
  3. Imported Food Safety: In an increasingly globalized marketplace with rising consumer demand, food imports have risen drastically. The FSMA makes sure that imported foods meet U.S. safety standards.
  4. Response: The FSMA gives the FDA mandatory recall authority for the first time ever. While it anticipates the FDA needing to use this authority infrequently, it nonetheless offers the agency this tool, as well as others, to ensure a rapid response to serious problems.
  5. Enhanced Partnerships: Prevention and rapid response aren’t possible without close partnerships with other agencies at all levels of government. As such, the FSMA directs the FDA to improve training of state, local, territorial and tribal food safety officials.

Implementation Deadlines

In order to make the provisions more manageable and to give all affected parties time to prepare, the FDA staggered provisions over the course of several years. Many of these have already been implemented, but there are two important deadlines coming up.

  1. The Sanitary Transportation of Human and Animal Food Rule – March 31, 2016

The FSMA requires the FDA to institute transportation practices that ensure food—both for humans and animals—that is transported by motor vehicle or rail is done under conditions that will not adulterate or contaminate the food.

To serve that end, the Sanitary Transportation of Human and Animal Food Rule, which goes into effect March 31, 2016, contains the following provisions:

  • Vehicles: Any vehicle and transportation equipment will have to be designed and maintained in a way that ensures the food it carries won’t become contaminated.
  • Transportation Operations: Procedures and practices employed during the transportation of food—such as temperature controls and the separation of food items from non-food items—will need to ensure that it is not contaminated.
  • Information Exchange: Shippers, carriers and receivers will need to follow proper procedures for the exchange of information about prior cargo, the cleaning of transportation equipment and temperature control.
  • Training: Carriers will need to implement and document training for all carrier personnel in sanitary transportation practices.
  • Records: Carriers and shippers will need to maintain written procedures and records related to equipment cleaning, prior cargo and temperature control.

More information on sanitary transportation, including guidance and regulatory documents, can be found through the FDA’s website here.

  1. The Intentional Adulteration Rule – May 31, 2016

The Intentional Adulteration Rule, which goes into effect on May 31, 2016, seeks to defend the food supply from the intentional introduction of biological, chemical and radiological hazards. To achieve that end, the Intentional Adulteration Rule requires facilities to take the following measures:

  • Conduct a self-assessment of vulnerabilities, specifically those related to the following:
    • Bulk liquid receiving and holding
    • Liquid storage and handling
    • Secondary ingredient handling
    • Mixing and similar activities
  • Identify actionable processes, which are points, steps or procedures in a food process that will require focused mitigation strategies
  • Create and document a written food defense plan, with specific mitigation strategies designed to combat the identified actionable processes

The FDA has tools and resources related to food defense available through its website, which can be found here.

Which Industries Are Affected?

Specifics on the FDA’s regulations and implementations to FSMA can be found on the FDA’s website. Rely on Kaercher Insurance for updates, as well as for other compliance and risk management information.

13Mar 2017

About Us

Kaercher Insurance Brokerage, has for over 60 years provided risk management, and financial products and services to corporations, institutions, and individuals throughout the world.

What Makes Kaercher Different

At Kaercher Insurance we take a pro-active approach to the management and servicing of your account with:
Continue reading